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EssentialThe Essential Conversation

Precious Metals At The Liquidity Floodgates

Featuring Tavi Costa and Michael Nicoletos

Aug 31, 2021 • 50 minutes

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Essential

The Essential Conversation

Precious Metals At The Liquidity Floodgates

The conditions for a precious metals bull market are here, but gold and silver are going down. What s going on?

Featuring Tavi Costa and Michael Nicoletos

Aug 31, 2021 • 50 minutes

The conditions for a precious metals bull market – deeply negative real rates and ballooning government deficits – are here, so why do gold and silver appear to have hit a speedbump? This is the question explored by veteran macro investor Michael Nicoletos and Tavi Costa, portfolio manager at Crescat Capital. Costa notes that the Federal Reserve is trapped between inflation and deflation, or as he calls it, “a tale of two destructive outcomes,” and he argues that the Fed’s inclination to continue to suppress rates will serve as a ballast for precious metals. Nicoletos explains why, when major central banks conduct quantitative easing (QE) together, moves in currencies are suppressed, so the truly big swings occur in real assets in addition to equities. The pair also explore gold’s potential vulnerability to being replaced by crypto as well as the risks they see in the Chinese economy and market structure. Filmed on August 26, 2021. Show More

The Essential Conversation is the world's premier financial-market-focused conversation series. The smartest people in markets, finance, economics, and business engage in deep-diving discussions about the global macro landscape, generating actionable takeaways that can help your decision-making process. Tune in to peer-to-peer conversations between the brightest minds in the investing world, and tune up your portfolio.

More Episodes

The Essential Conversation is the world's premier financial-market-focused conversation series. The smartest people in markets, finance, economics, and business engage in deep-diving discussions about the global macro landscape, generating actionable takeaways that can help your decision-making process. Tune in to peer-to-peer conversations between the brightest minds in the investing world, and tune up your portfolio.

More Episodes

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